MOBILE REMOTE DEPOSIT SERVICES AGREEMENT
This Mobile Remote Deposit Services Agreement (“Agreement”) contains the terms an
conditions for the use of this service and is entered into between Hudson Valley Federal
Credit Union (“HVFCU”, us, our) and “Member”, you, your, and forms part of the Truth
in Savings Disclosure and Account Agreement for the account(s) of Member
(collectively, the “Account Agreements”).
Mobile Remote Deposit is designed to allow you to make deposits of checks (“original
checks”) to your accounts from home or other remote locations by scanning the original
checks and delivering the digital images and associated deposit information (“images”) to
us or our processor with your mobile device. After you login to HVFCU’s Mobile
Banking, you may apply for Mobile Remote Deposit.
Acceptance of these Terms. Your use of the services constitutes your acceptance of this
Agreement. This Agreement is subject to change from time to time. We will notify you of
any material change. Your continued use of the services will indicate your acceptance of
the revised Agreement. Further, HVFCU reserves the right, in its sole discretion, to
change, modify, add, or remove portions from the services. Your continued use of the
services will indicate your acceptance of any such changes to the services.
Limits. We may establish limits on the dollar amount and/or number of items or deposits
from time to time. If you attempt to initiate a deposit in excess of these limits, we may
reject your deposit. If we permit you to make a deposit in excess of these limits, such
deposit will still be subject to the terms of this Agreement, and we will not be obligated
to allow such a deposit at other times.
Eligible items. You agree to scan and deposit only checks (i.e., drafts drawn on a credit
union, savings and loan or bank and payable on demand.)
You agree that you will not use Mobile Remote Deposit to deposit:
Checks payable to any person or entity other than you (i.e., payable to another party
and then endorsed to you).
Checks that contain evidence of alteration, or that you know or suspect, or should
know or suspect, are fraudulent or otherwise not authorized by the owner of the
account on which the check is drawn.
Checks previously converted to a substitute check, as defined in Regulation CC.
Checks drawn on a financial institution located outside the United States.
Checks that are remotely created checks, as defined in Regulation CC.
Checks not payable in United States currency.
Checks dated more than 6 months prior to the date of deposit.
Checks dated more than one day prior to the date of deposit
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MOBILE REMOTE DEPOSIT SERVICES AGREEMENT
Requirements. Each image must provide all information on the front and back of the
original check at the time presented to you by the drawer, including, but not limited to,
information about the drawer and the paying bank that is preprinted on the original check,
MICR information, signature(s), any required identification written on the front of the
original check and any endorsements applied to the back of the original check. The image
quality must meet the standards established by the American National Standards Institute,
the Board of Governors of the Federal Reserve, and any other regulatory agency, clearing
house or association.
Endorsements must be made on the back of the share draft or check within 1½ inches
from the top edge, although we may accept endorsements outside this space. Your
endorsement must include your signature and “via mobile remote deposit”. Any loss we
incur from a delay or processing error resulting from an irregular endorsement or other
markings by you will be your responsibility.
Multiple Payees. A check payable to two payees must be endorsed by both payees. If the
check is payable in the alternative (to you or your joint owner), either of you can endorse
it. If the check is made payable jointly (to you and your joint owner), both of you must
endorse the check. If the check is not clearly made payable in the alternative or payable
jointly the check may be treated as the alternative and either of you can endorse it.
Receipt of Deposit. All images processed for deposit through Mobile Remote Deposit
will be treated as “deposits” under your current Account Agreement with us and will be
subject to all terms of the Account Agreement. When we receive an image, we will
confirm receipt via email to you. We shall not be deemed to have received the image for
deposit until we have confirmed receipt to you. Confirmation does not mean that the
image contains no errors. We are not responsible for any image that we do not receive.
Following receipt, we may process the image by preparing a “substitute check” or
clearing the item as an image.
We reserve the right, at our sole and absolute discretion, to reject any image for remote
deposit into your account. We will notify you of rejected images.
Original checks. After you receive confirmation that we have received an image, you
must securely store the original check for 62 calendar days after transmission to us and
make the original check accessible to us at our request. Upon our request from time to
time, you will deliver to us within 10 calendar days, at your expense, the requested
original check in your possession. If not provided in a timely manner, such amount will
be reversed from your account. Promptly after such period expires, you must destroy the
original check by first marking it “VOID” and then destroying it by cross-cut shredding
or another commercially acceptable means of destruction. After destruction of an original
check, the image will be the sole evidence of the original check.
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MOBILE REMOTE DEPOSIT SERVICES AGREEMENT
You agree that you will never re-present the original check. You understand that you are
responsible if anyone is asked to make a payment based on an original check that has
already been paid.
Returned Deposits. Any credit to your account for checks deposited using Mobile
Remote Deposit is provisional. If original checks deposited through Mobile Remote
Deposit are dishonored, rejected or otherwise returned unpaid by the drawee bank, or are
rejected or returned by a clearing agent or collecting bank, for any reason, including, but
not limited to, issues relating to the quality of the image, you agree that an original check
will not be returned to you, but that we may charge back the amount of the original check
and provide you with an image of the original check, a paper reproduction of the original
check or a substitute check. You will reimburse us for all loss, cost, damage or expense
caused by or relating to the processing of the returned item. Without our approval, you
shall not attempt to deposit or otherwise negotiate an original check if it has been charged
back to you.
We may debit any of your accounts to obtain payment for any item that has been rejected
or returned, for any adjustment related to such item or for any warranty claim related to
such item, whether or not the rejection, return, adjustment or warranty claim was made
timely.
Your Warranties. You make the following warranties and representations with respect
to each image:
Each image is a true and accurate rendition of the front and back of the original
check, without any alteration, and the drawer of the check has no defense against
payment of the check.
The amount, payee(s), signature(s), and endorsement(s) on the image and on the
original check are legible, genuine, and accurate.
You will not deposit or otherwise endorse to a third party the original check and no
person will receive a transfer, presentment, or return of, or otherwise be charged for,
the original check or a paper or electronic representation of the original check such
that the person will be asked to make payment based on an item that has already been
paid.
There are no other duplicate images of the original check.
The original check was authorized by the drawer in the amount stated on the original
check and to the payee(s) stated on the original check.
You are authorized to enforce and obtain payment of the original check.
You have possession of the original check and no party will submit the original check
for payment.
With respect to each image, you make to us all representations and warranties that we
make or are deemed to make to any party pursuant to law, regulation or clearinghouse
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rule. You agree that files and images transmitted to us will contain no viruses or any
other disabling features that may have an adverse impact on our network, data, or related
systems.
Compliance with Law. You must comply with all laws, rules, and regulations applicable
to you and to the products and services, including, without limitation, Regulation CC, the
Uniform Commercial Code and any rules established by an image exchange network
through which Image Exchange Items are processed pursuant to this Agreement. You
shall have the responsibility to fulfill any compliance requirement or obligation that
HVFCU and/or you may have with respect to the service under all applicable U.S. federal
and state laws, regulations, rulings, including sanction laws administered by the Office of
Foreign Assets Control, and other requirements relating to anti-money laundering,
including but not limited to, the Federal Bank Secrecy Act, the USA PATRIOT Act and
any regulations of the U.S. Treasury Department to implement such Acts, as amended
from time to time. You will use Mobile Remote Deposit for lawful purposes and in
compliance with all applicable laws, rules and regulations. You warrant that you will
only transmit acceptable items for deposit and have handled the original items in
accordance with applicable laws, rules and regulations.
Mobile Remote Deposit Unavailability. Mobile Remote Deposit may be unavailable
temporarily due to system maintenance or technical difficulties, including those of the
Internet service provider, cellular service provider and Internet software. In the event
that Mobile Remote Deposit is unavailable, you may deposit original checks at our
branches or through our ATMs.
Funds Availability. For purposes of funds availability, Mobile Remote Deposits are
considered deposited at a branch or HVFCU ATM. Generally, Mobile Remote Deposits
confirmed as received before close of business on a business day will be credited to your
account within 24 hours of receipt. Deposits confirmed received after close of business,
and deposits confirmed received on holidays or days that are not business days will be
credited to your account within 24 hours of the following business day. However if the
image captured by your mobile device is not received by us correctly or has defects
requiring additional repair work by HVFCU, funds may take up to two additional
business days to become available. Checks transmitted via Mobile Remote Deposit are
not subject to the funds availability requirements of Federal Reserve Board Regulation
CC or our Funds Availability Policy.
Mobile Remote Deposit Security. You will complete each deposit promptly. If you are
unable to complete your deposit promptly, you will ensure that your mobile device
remains securely in your possession until the deposit has been completed. It is your
responsibility to establish and maintain procedures to safeguard against unauthorized
deposits. You will notify us immediately by telephone with written confirmation if you
learn of any loss or theft of original checks. You will ensure the safety and integrity of
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original checks from the time of receipt until the time of destruction. If warranted in our
reasonable judgment, we may audit and monitor you, and you agree to cooperate with us
to permit such monitoring, to confirm that you have satisfied your obligations under this
Agreement.
Your Responsibility. You are solely responsible for the quality, completeness, accuracy,
validity and integrity of the image. You are solely responsible if you, intentionally or
unintentionally, submit fraudulent, incorrect or illegible images to us or if Mobile Remote
Deposit is used, by authorized or unauthorized persons, to submit fraudulent,
unauthorized, inaccurate, incorrect or otherwise improper or unusable images to us. It is
your duty to inform us of any incorrect amount deposited to your account. If you fail to
notify HVFCU of an incorrect deposit and the funds are withdrawn you are liable to us
for the amount of the funds as well as any attorney costs and fees associated with
HVFCU having to be reimbursed for such loss of funds.
In addition you agree that you will not modify, change, alter, translate, create derivative
works from, reverse engineer, disassemble or decompile the technology or Service, copy
or reproduce all or any part of the technology or Service; or interfere, or attempt to
interfere, with the technology or Service. We and our technology partners, inclusive of,
but not limited to, Intuit, Inc. and Vertifi Software, LLC, retain all rights, title and
interests in and to the Services, Software and Development made available to you.
Accountholder’s Indemnification Obligation. You understand and agree that you are
required to indemnify us and hold us harmless against any and all claims, actions,
damages, liabilities, costs, and expenses, including reasonable attorneys’ fees and
expenses arising from your use of the Services and/or breach of this Disclosure and
Agreement. You understand and agree that this paragraph shall survive the termination
of this Agreement.
You understand and agree that you are required to indemnify our technology partners,
including but not limited to Intuit, Inc. (Intuit) and Vertifi Software, LLC (Vertifi), and
hold harmless Intuit, its affiliates, officers, employees and agents, as well as Vertifi, its
affiliates, officers, employees, and agents, from and against any third party claims, suits,
proceedings, actions or demands, including to claims of another financial institution,
business entity or governmental authority, and all losses, liabilities, damages, fines,
penalties, costs and expenses, including court costs and reasonable attorney fees and
expenses, arising from such claims, to the extent such claim is related to FI or End User’s
use of the Services, Vertifi or Intuit Applications, unless such claim directly results from
an action or omission made by Intuit or Vertifi in bad faith. You understand and agree
that this paragraph shall survive the termination of this Agreement.
DISCLAIMER OF WARRANTIES. YOU AGREE THAT YOUR USE OF ANY
REMOTE BANKING SERVICE AND ALL INFORMATION AND CONTENT
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MOBILE REMOTE DEPOSIT SERVICES AGREEMENT
(INCLUDING THAT OF THIRD PARTIES) IS AT YOUR RISK AND IS PROVIDED
ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE DISCLAIM ALL
WARRANTIES OF ANY KIND AS TO THE USE OF ANY REMOTE BANKING
SERVICE, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED
TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE AND NONINFRINGEMENT. WE MAKE NO
WARRANTY THAT ANY REMOTE BANKING SERVICE WILL MEET YOUR
REQUIREMENTS OR WILL BE UNINTERRUPTED, TIMELY, SECURE, OR
ERROR-FREE. WE MAKE NO WARRANTY THAT THE RESULTS THAT MAY
BE OBTAINED WILL BE ACCURATE OR RELIABLE OR THAT ANY ERRORS IN
ANY REMOTE BANKING SERVICE OR TECHNOLOGY WILL BE CORRECTED.
LIMITATION OF LIABILITY. YOU AGREE THAT WE WILL NOT BE LIABLE
FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR
EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR
LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES INCURRED BY
YOU OR ANY THIRD PARTY ARISING FROM OR RELATED TO THE USE OF,
INABILITY TO USE, OR THE TERMINATION OF THE USE OF ANY REMOTE
BANKING SERVICE, REGARDLESS OF THE FORM OF ACTION OR CLAIM
(WHETHER CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF
WE HAVE BEEN INFORMED OF THE POSSIBILITY THEREOF, EXCEPT AS
OTHERWISE REQUIRED BY LAW.
Financial Information. You must inform us immediately of any material change in your
financial circumstances or in any of the information provided in your Application for any
Remote Banking services. You agree to provide us any financial information we
reasonably request during the term of this Agreement. You authorize us to review your
history from time to time.
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